Search age:

Search in:

InvoCare rises after swallowing rival

Glenda Kwek

InvoCare has reported a net profit of $44.5 million for 2012, a 64.7 per cent increase from the previous corresponding period.

The funeral and cemetery operator declared a final fully franked dividend of 19 cents per share, payable in April.

InvoCare recorded group sales of $368.7 million, a 14.9 per rise from the same period the year before. It attributed the growth to Bledisloe, its rival before being InvoCare's acquisition, which obtained $69.3 million in sales in 2012.

"Bledisloe continues to perform well and complements our comparative business which has seen a solid 5.6 per cent increase in sales revenue," InvoCare's chief executive Andrew Smith said.

"We continue to focus on service innovation, including investing into technology to help deliver on our service promise."